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SBI forex business split soon

Calcutta, March 12 (PTI): State Bank of India (SBI) will take a month to decide how it can equally share its forex business between Calcutta and Mumbai.

The decision was conveyed by the bank management to representatives of SBI Staff Association (SBISA) and SBI Officer’s Federation (SBIOF) after a meeting in Mumbai on Tuesday, sources said here today.

SBI had shifted its forex department from Calcutta to Mumbai in September 1998, but in the face of opposition from the workers and intervention by the Bengal government, it had agreed to bring back 50 per cent of the business to Calcutta.

SBISA general secretary Ashok Datta, while welcoming the decision of the management, said, “As they have sought time, we will see what they decide. We will again sit with the SBIOF and then decide on our future plans.”

SBISA had threatened to protest if the management failed to bring in the promised 50 per cent of total forex business back to Calcutta.

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